Premiums on standard annual renewable term life will generally increase as the policyholder ages.

Question

Quizplus · Accepted Answer

Premiums on standard annual renewable term life policies are typically based on the age of the policyholder, and as the policyholder ages, the premiums usually increase. This is because the older the policyholder, the higher the risk of death or illness, which increases the cost for the insurance company to provide coverage.

Premiums on Standard Annual Renewable Term Life Will Generally Increase